"ANPR system is designed to read the number plate of vehicles and store it into the data base. Need for ANPR system in security and surveillance and traffic control, infrastructure growth in the emerging economies are some of the significant growth drivers for the ANPR system market. However, the misinterpretations of the ambiguous characters on the number plate and privacy concerns are some of the restraining factors of the ANPR system market.

‘ANPR cameras hold the lions share’

Among all the ANPR system components, ANPR cameras held the largest market share in 2014 and it is expected to reach USD 591.2 million by 2020. ANPR camera market is expected to grow at a CAGR of 12.59% between 2015 and 2020. ANPR camera market is more than that of the other component is due to the requirement as per the infrastructure and the cost factor.

‘Europe is the major market for ANPR system’

The Europe ANPR system market is segmented into the countries such as Germany, the U.K., France, and Rest of Europe. The major driver for the European ANPR system market is the high adoption rate for the applications such as traffic management and law/police enforcement. The increasing concerns regarding safety of travelers and vehicles on roads have led to the adoption of intelligent transportation systems in this region.

• This report includes the market statistics pertaining to type, component, application, and geography along with their respective revenue. • The Porter’s five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the ANPR systems market. • Major drivers, restraints, challenges, and opportunities for the ANPR system market have been detailed in this report. • Illustrative segmentation, analysis, and forecast for markets based on type, component, application, and geography have been conducted to give an overall view of the ANPR system market.